|Southwest Gas Increases the Quarterly Common Stock Dividend and Declares Second Quarter 2011 Dividend|
LAS VEGAS, Feb. 24, 2011 /PRNewswire via COMTEX/ --
The Board of Directors for Southwest Gas Corporation (NYSE: SWX) has increased the quarterly common stock dividend from $.25 per share to $.265per share and has declared the following second quarter cash dividend:
The dividend equates to $1.06 per share, a six cent or six percent increase, on an annualized basis. The Company has paid quarterly dividends continuously since going public in 1956, and has raised its dividend in each of the past five years. Chief Executive Officer Jeffrey Shaw noted, "We are pleased with the improved stability of our revenues and cash flows, and our stronger capital structure. These factors, combined with the Company's improved operating performance have positioned us to be able to again increase the dividend. Dividend increases are necessary to facilitate competitive and reasonable returns for our shareholders."
About Southwest Gas
Southwest Gas Corporation provides natural gas service to approximately 1.8 million customers in Arizona, Nevada, and California. For more information about Southwest Gas, please visit www.swgas.com.
SOURCE Southwest Gas Corporation